Field of the Invention
The present invention generally relates to recovering declined payment transactions.
Related Art
When a user shops on a merchant's website, the user typically provides a credit card, debit card, bank account, or some other form of payment during checkout. If the user's credit card is declined, the user is usually not informed about the reason the card was declined, only that the transaction did not go through. In most situations, the user will attempt to use another payment method, but will have to repopulate the shopping cart with previously selected items, click on the checkout button, and then enter the new payment funding details. In other words, the user has to restart the entire transaction.
Such lack of capability of recovering purchase transactions with a different payment means disrupts a seamless purchase experience of the user and causes loss of sales that are otherwise recoverable because many users choose to give up. It is inconvenient and a hassle to have to start the purchase procedure from the very beginning. Thus, a need exists for improved methods that allow a user to select a new payment method for transactions that are declined.
Embodiments of the present disclosure and their advantages are best understood by referring to the detailed description that follows. It should be appreciated that like reference numerals are used to identify like elements illustrated in one or more of the figures, wherein showings therein are for purposes of illustrating embodiments of the present disclosure and not for purposes of limiting the same.